Aldea Pharmaceuticals Obtains $24,000,000 Series B Round
Feed Type
Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=298edbd5-eaf9-4c86-9abc-23f8bea0a189
Date 8/25/2014
Company Name Aldea Pharmaceuticals
Mailing Address 3696 Haven Avenue Redwood City, CA 94063 USA
Company Description Aldea Pharmaceuticals is developing a number of small-molecule modulators of the aldehyde dehydrogenase enzyme (ALDH) superfamily. This proprietary scientific approach was originally discovered by Stanford University researchers and exclusively licensed to Aldea. With its ALDH platform, Aldea has the unique opportunity to pursue novel targets across multiple therapeutics areas to address significant unmet medical needs.
Proceeds Purposes The financing will be used to advance Aldea’s lead drug candidate, AD-6626, into clinical trials, including evaluating proof-of-concept for the treatment of subjects with acute alcohol intoxication and funding subsequent Phase 2 trials of intravenous (IV) AD-6626 in an emergency room (ER) setting. In addition, Aldea is studying oral AD-6626 for the treatment of subjects with the rare genetic disease Fanconi anemia, and anticipates the financing will support a Phase 1/2 proof-of-biology study in that indication.